In October 2016, consumer prices were stable over a month; they rose by 0.4% year-on-year

In October 2016, consumer prices were stable over a month; they rose by 0.4% year-on-yearConsumer price index - final results - October 2016

In October 2016, the Consumer Prices Index (CPI) was stable over a month, after a
downturn by 0.2% in September. Seasonally adjusted, it was unchanged too, after a
slight rise in September. Year-on-year, the CPI grew by 0.4% as in the previous month.

This month-on-month stability came from an acceleration in energy prices, offset by
a fall in food and services prices. Furthermore, manufactured product prices were
unchanged.

Monthly change: 0.0%; Year-on-year: +0.4%

In October 2016, the Consumer Prices Index (CPI) was stable over a month, after a
downturn by 0.2% in September. Seasonally adjusted, it was unchanged too, after a
slight rise in September. Year-on-year, the CPI grew by 0.4% as in the previous month.

This month-on-month stability came from an acceleration in energy prices, offset by
a fall in food and services prices. Furthermore, manufactured product prices were
unchanged.

Acceleration in energy prices

In October 2016, energy prices sped up (+1.3%) after a rebound in the previous month
(+0.8%). Year-on-year, they increased for the first time since December 2014 (+0.7%
after −1.1% the previous month). The overall rise resulted from that in petroleum
product prices (+2.4% after +1.4% in September; +1.8% year-on-year). It was slightly
offset by the fall in town gas and natural gas prices, index-linked to the changes
in oil prices with a time lag (−0.7%; −7.2% year-on-year). Electricity fares were
stable over the month for the second consecutive month (+1.8% year-on-year).

Further fall in food prices

In October 2016, food prices fell again, but less than the previous month (−0.1% after
−0.5%), due to fresh food (−0.1% after −2.5%). Excluding fresh products, food prices
were unchanged after a moderate decrease in September (−0.2%). Year-on-year, food
prices edged down (−0.1%).

tableau Table1 – Detailed figures for various groups

2015: 100

Detailed figures for various groups

Items

Weight

Index

Percentage change

2016

Oct. 2016

m-on-m change

y-on-y change

a) All households

OverAll

10000

100.37

0.0

0.4

Overall SA*

10000

100.39

0.0

0.4

Food

1615

100.47

−0.1

−0.1

Fresh food

217

103.59

−0.1

0.0

Other food

1398

99.98

0.0

−0.1

Tobacco

195

100.17

0.0

0.1

Manufactured products

2651

99.96

0.0

−0.6

Clothing and footwear

414

104.53

0.4

0.2

Medical products

466

96.32

−0.3

−2.5

Other manufactured products

1771

99.79

−0.1

−0.4

Energy

773

98.53

1.3

0.7

Petroleum products

419

97.42

2.4

1.8

Services

4766

100.89

−0.1

1.0

Actual rentals and services for dwellings

768

100.68

0.0

0.2

Medical services

598

100.38

0.4

0.3

Transport

279

98.33

1.3

−0.5

Communication

245

103.31

0.0

3.2

Other services

2876

101.09

−0.4

1.3

Total except rents and tobacco

9183

100.37

0.0

0.4

Total except tobacco

9805

100.37

0.0

0.4

b) Urban working-class households or households of employees

All products excluding tobacco

9704

100.36

0.0

0.4

c) Households that belong to the lowest equivalized disposable income quintile -
France

All products excluding tobacco

9696

100.24

0.1

0.3

*: seasonally adjusted

Geographical coverage: France excluding Mayotte

Source: INSEE - Consumer Price Indices

Smaller fall in services prices

In October 2016, the prices of services fell again, but significantly less than in
the previous month (−0.1% après −1.1%). Year-on-year, prices slowed down (+1.0% after
+1.2% in September). This slight month-on-month fall came chiefly from tourism-related
services, as accomodation services (−2.0%) and package holidays (−2.5%). However,
airfares rebounded (+5.2% after −18.2%; −3.9% year-on-year). Moreover, the prices
of communication services were stable after a rise in the previous month; year-on-year,
they rose by +3.2%.

Stability for manufactured product prices

In October 2016, prices of manufactured products were unchanged after an increase
in September (+1.3%). Year-on-year, they diminished by 0.6%, as in September. Still
very dynamic in the previous month, clothing and footwear prices decelerated sharply
(+0.4% after +7.9%). Prices of “other manufactured products” fell slightly (−0.1%),
due to the downturn in new motors car prices (−0.6% after +0.5%). Lastly, the prices
of health products fell back by 0.3%. Year-on-year, their decrease remained lower
than last year (−2.5% year-on-year; −4.2% in October 2015).

Slight downturn in core inflation

In October 2016, the core inflation indicator (ISJ) went down to −0.1% after a rise
by 0.2% in September. Year-on-year, it decelerated to +0.5% after +0.7% in the previous
month. The Harmonised Index of Consumer Prices (HICP) were stable over one month;
year-on-year, it rose by 0.5%, as in September.

Revisions

Compared to the provisional estimates published on 28 October 2016, the monthly and
annual rates of change in the CPI and HICP are unchanged.

* Core inflation indicator excludes public sector prices, the most volatile consumer
prices and the tax measures. Seasonally adjusted, this index is calculated for all
households in France excluding overseas departments and territories. (in French “indice
d'inflation sous-jacent - ISJ)

**HICP: Harmonised Indices of Consumer Prices are inflation figures designed for international
comparison between Member states of the European Union. This index is calculated for
all households in France excluding Mayotte.